HEICO Acquires Leading F-16 Spares Manufacturer
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Heico Corp. (HEI) Acquires F-16 Spares Manufacturer, Aerospace & Commercial Technologies
August 19, 2015 8:33 AM EDTHEICO Corporation (NYSE: HEI.A) (NYSE: HEI) today announced it has acquired 80.1% of Aerospace & Commercial Technologies (ACT), a leading provider of products and services necessary to maintain up-to-date F-16 fighter aircraft operational capabilities. ACT's leadership team will continue to own 19.9% of ACT. The purchase price and financial details were not disclosed.
HEICO stated that it expects the acquisition to be accretive to its earnings within the first year following the acquisition.
Founded in 2002, ACT supports the F-16 fleet with OEM quality products for the airframes and its systems on... More
